The Futura Loyalty Group Inc.

The Futura Loyalty Group Inc.

May 04, 2011 14:32 ET

Futura Announces Financial Results for 2010

TORONTO, ONTARIO--(Marketwire - May 4, 2011) - The Futura Loyalty Group Inc. (TSX VENTURE:FUT) ("Futura" or the "Company") has released its financial results for the fiscal year ending December 31, 2010.

Total revenue from continuing operations for the year ended December 31, 2010 was up 34% to $1,654,326, from $1,237,770 in 2009. Excluding breakage, revenue for 2010 and 2009 was $1,369,626 and $745,725 respectively, an 84% annual increase. The increase in revenue in 2010 was largely the result of increased branded loyalty reward currency revenues which rose to $1,287,019 in 2010, compared to $574,742 in 2009, a 124% annual increase.

The net loss from continuing operations for 2010 was $2,184,831 in comparison to $2,331,294 in 2009. The Company's technology systems as well as sales and account management processes have been enhanced to support management's expected growth in the automotive service and auto dealer sectors. Earnings per share were $Nil and there were 163,676,290 shares outstanding at year end.

The Company was focused on driving growth in branded loyalty rewards issuance in the automotive services segment in 2010, increasing the number of locations at which consumers can earn loyalty rewards to 568 from 237 in 2009. The Company has expanded its focus to include the new car dealer sector and recently announced a multiyear strategic partnership with the Toronto Automobile Dealers' Association ("TADA") which has over 340 new car dealers as members. The Company is also in discussions with several provincial automobile dealer associations about similar strategic marketing partnerships.

"We built a great foundation for growth in the automotive service sector in 2010, which we continue to build on in 2011. The addition of the new car dealer sector, the second largest consumer spend category in Canada, presents an enormous growth opportunity for the company" commented Mark Farrell, CEO of Futura. "Our branded loyalty reward currency offering coupled with our private branded loyalty product – Dealer Dollars – offers our automotive clients a comprehensive solution to their loyalty marketing needs."

The Company also announced that the loan previously announced on April 21, 2009 was assigned to two parties. One of the lenders, David Beutel, is a director of the Company and is a related party pursuant to Multilateral Instrument 61-101. The maturity date of the loan was subsequently postponed to December 28, 2011. The transaction was completed within 21 days of the date of filing of a material change report in connection with the transaction. Management of the Company has determined that such transaction was reasonable and necessary in the circumstances.

To see the Company's full financial statements, please go to or

About Futura Loyalty Group

The Futura Loyalty Group Inc. is an industry-leading provider of branded loyalty reward currencies, private branded loyalty programs and targeted marketing solutions using email, mobile, direct mail and the web. Futura's loyalty services include member account set up, management and reward redemption platform, a web-based program transaction reporting interface for merchants, a robust offer management system, retail POS Integration for card swipe issuance and a proprietary web based issuance solution. For more information regarding Futura Loyalty Group, visit

TM Trademark of The Futura Loyalty Group Inc.

The TSX-Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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